Australia's multi-billion-dollar pipeline of new highways, railway upgrades and other projects is under threat from rising costs and acute labour shortages.
UPDATE: Administrators for Clough have found a new buyer in Webuild, the company that pulled out of a lifeline deal to save the Perth engineer just over a week ago.
The eighth interest rate hike in a row has been met with indifference by consumers, with households likely banking on a pause at the next Reserve Bank meeting.
Clough's administrators say they have fielded “multiple enquiries” from interested suitors after securing short-term funding to pay workers on projects caught up in the Perth engineer's collapse.
The local share market has fallen by 0.75 per cent to an almost three-week low, with gold gaining and oil hitting its lowest level since early January.
Swiss multinational Glencore is reviewing how its plan for a new $2 billion coal mine in central Queensland fits with its aims to cut emissions to net zero.
The local share market has fallen 0.85 per cent, its biggest drop in a month amid fears the US Federal Reserve may keep hiking interest rates aggressively.
The court has ordered more than $4.5 million taken out from Marc Cardaci’s trusts to fund the legal proceedings between his widow and brother to be repaid.
The cash rate has hit its highest level since December 2012, with a $500,000 home loan now costing $880 more per month than before the hikes started in May.
Italy's Webuild has backed out of a conditional deal to buy struggling engineer Clough, plunging the 102-year old Perth-based company into administration.
The local bourse finished up 0.3 per cent, boosted by the likes of Fortescue, BHP and Rio Tinto as iron ore prices rose amid hopes of China's further reopening.
